Market Buzz
Tuesday newspaper round-up: Trade, China, housing, UK tech
The threat of a trade war between the United States and China is unnerving business leaders and hitting the entire global economy, the head of the World Trade Organisation has warned. Roberto Azevêdo, the WTO director-general, said that “just the possibility” of an escalation in the dispute between the two countries was having an impact on corporate investment decisions. - The Times.
Market buzz: Pound strength weighs on stocks, JP Morgan upbeat
1700:Close UK stocks slipped even as the American S&P 500 moved back into the black for the year, as pound strength acted as a drag ahead of the start of talks this week on the UK's post-Brexit trade relationship.
Monday newspaper round-up: UK high street, BHP Billiton, electricity bills
Dismal weather kept consumers away from the high street last month, prompting the steepest drop in shopper numbers since the end of 2010. The number of people visiting shops in March dropped 6% compared with the same month last year after strong winds and snow hit the UK. A survey of Visa card users indicated that consumer spending slid 2% in March, rounding off a poor start to the year for the retail sector. - Guardian .
Sunday newspaper round-up: Hammerson, WPP, Whitbread, BAE
The FTSE 100 shopping centre owner Hammerson could decide to renegotiate or even abandon a £3. 4bn merger with a rival this week. The board is expected to meet amid growing investor unrest over a proposed tie-up with Intu, whose properties include the Trafford Centre in Manchester. - Sunday Times.
Market Buzz: Investors play it safe going into the weekend; 'Sell the rip', BoA says
1700:Close Stocks carved out slight gains as the pound trimmed early sharp gains, as investors reacted positively to hints of progress in Washington's trade negotiations with Beijing and its NAFTA partners.
Friday newspaper round-up: TPP, VW, FirstGroup, Facebook
Donald Trump has said he would lead America back into the controversial Trans Pacific Partnership trade pact – but only if he was offered a better deal than that negotiated by the Obama administration. After reports that he was reconsidering his decision to pull out of the pact, Trump tweeted on Thursday night that he would only do so if he was offered improved terms from the 11 existing signatories, who include Japan, Australia and Canada. “Would only join TPP if the deal were substantially better than the deal offered to Pres.
Market buzz: M&A news for FirstGroup and IAG; Trump at it again
1630: Sterling on a tear versus the euro, up 0. 85% at 1. 1560, and atop technical resistance around the 1. 15 area. Things are looking up for the pound now.
Thursday newspaper round-up: Housing market, FirstGroup, Hammerson, Melrose
Britain’s property surveyors have issued the most downbeat assessment of the housing market for five years. The Royal Institution of Chartered Surveyors (Rics) said that in March demand from buyers fell for the 12th month in a row, new instructions from sellers declined for the seventh consecutive month, and prices were flat nationally. Rics measures confidence in the property market by balancing surveyors seeing price rises against those seeing price falls. It said the figures were the lowest since 2013.
Market buzz: US inflation undershoots forecast, UK growth forecast cut
1515: The Russian rouble is shedding another 2. 27% to trade at 0. 0155 US dollars and the yield on the benchmark 10-year Russian government bond was climbing eight basis points to 7. 67%. Tensions around Syria are being cited by some as a reason behind the country's increased risk premium.
Wednesday newspaper round-up: IMF warning, 21st Century Fox, EDF
The head of the International Monetary Fund has warned of “darker clouds looming” for the global economy amid simmering trade tensions between the US and China, urging governments around the world to steer clear of protectionism or face negative consequences. Christine Lagarde said the current system for world trade was “in danger of being torn apart”, with the potential to upset the present global economic upswing and make consumers poorer. – Guardian.
Market buzz: Xi opens door for Trump?, Fed's Kaplan says rate hikes may slow
1700:Close Stocks jumped on Tuesday, boosted by ebbing trade tensions between Beijing and Washington, with miners clearly at the head of the pack as copper (and oil) futures bounced back.
Tuesday newspaper round-up: WPP, auditing, trade, food
The outcome of an inquiry into the personal conduct of Sir Martin Sorrell could be published as early as next week as potential successors for the top position at WPP continue to emerge. WPP, the world’s largest advertising agency, hopes that publishing the findings of an investigation into its long-serving chief executive next week will draw a line under a scandal that has left the group and Sir Martin vulnerable. - The Times.
Market buzz: Russia-exposed Evraz, Polymetal tank after US sanctions
1633: Morgan Stanley sounding a positive note on SSE and National Grid.
Monday newspaper round-up: Growth fears, trade war, IPOs, WPP
Brexit has fallen into second place as the most significant risk facing company bosses for the first time since the EU referendum, as weak domestic growth saps demand for their goods and services. According to a Deloitte survey of chief financial officers (CFOs) at some of the UK’s biggest businesses, companies are now less pessimistic about Brexit after ministers agreed the terms of a transition period with Brussels to smooth Britain’s exit from the EU. - Guardian.
Market buzz: Americans may need to endure a little pain, president says
1700:Close Stocks have ended the session just slightly lower, despite cautious commentary from analysts regarding the ongoing trade tensions globally.
Friday newspaper round-up: Global confidence, apprentices, BP, sugar
A blizzard of weak economic data from across the world has begun to infect global confidence, indicating that surging loan costs and monetary tightening by major central banks are inflicting damage. JP Morgan’s composite index of global economic growth fell abruptly to a 16-month low in March. While it remains in expansion territory, the steepness of the drop matched the slide in early 2016 at the onset of the Chinese currency crisis. - Telegraph .
Market buzz: Shares cheapest versus bonds since WWII, Bank Rate a 'talking point'
1700:Close Stocks bounced back sharply on the back of gains for the Metals and Mining sector, as global trade tensions ebbed and metals' prices moved higher again.
Thursday newspaper round-up: Facebook, Apple, Shell, trade war
More than a million Facebook users in Britain could have had their personal data accessed by Cambridge Analytica, the company revealed on Wednesday, as it increased its estimates of the total number of users affected from 50 to 87 million. Mark Zuckerberg, the embattled chief executive of the social media giant, refused to rule out legal action against the British company and insisted that he remained the best man to lead the tech firm, flatly denying he had been asked to resign.
Market buzz: Markets 'in risk-off mode', tariffs hit US aeros and autos
1535: French government spokesperson Benjamin Grievaux has said there is "no question of a softening or weakening in face of a unilateral decision taken by the US on steel", adding that Paris wants to ensure trade law and the principle of reciprocity in its commerce with America are respected.
Wednesday newspaper round-up: Tariffs, Brexit, pay, Facebook
The Trump administration has raised the stakes in a growing trade showdown with China by placing 25% tariffs on some 1,300 industrial technology, transport and medical products to try to force changes in Beijing’s intellectual property practices. The US announcement targets about $50bn of estimated 2018 imports and is aimed at hampering China’s efforts to upgrade its manufacturing base. The goods include electronics, aircraft parts, medicine and machinery. - Guardian.